Organizational Economics
Categories: Econ
Some workplaces are employee havens: plenty of recognition, worker agency, and happy folks. Others are Hell on Earth, with upset workers, upset bosses and drama afoot.
What makes some firms Heaven and others Hell on the inside?
Well, if you’re more interested in real life economics and less interested in theory, organizational economics is a lucrative place to go. Organizational economists study relationships within firms...everything from business risk and management decision-making to organizational structure and rewards systems for employees.
They make big bucks to make firms more efficient: cutting overlap, increasing employee retention, and managing risk wisely. As organizations grow, scaling them to size while keeping everyone happy is no easy feat. Shareholders, employees, and customers all have their expectations, which affect firm efficiency, productivity, and profitability.
